Pfizer Inc. Job Cuts a "Punch in the Gut"

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"I am acutely aware of impact these changes will have on our colleagues," Pfizer chief Jeff Kindler said in a press conference today, as he announced a restructuring that will reduce the company's workforce by 10%.

2,400 of those job cuts come in Michigan. A research and development site in Ann Arbor will close putting 2,100 out of work. 250 will lose their jobs in Kalamazoo and 60 in Plymouth Township near Detroit.

"I don't think there's any sugarcoating things. This is a tough blow," Governor Granholm said, calling the annoucement "a punch in the gut."

In a state with 7.1% unemployment, these are the jobs the governor has counted on as our future. These are the employees that are so central to her economic diversification plan.

Losing them is would mean losing educated workers. If they state in the state, the governor says, it is a potential resource for further development.

"There is an opportunity because there is talent here," she said in a press conference Monday.

She says 21st Century Jobs Fund money will be key in helping such educated employees create or find new high-tech jobs in Michigan.

About 3,800 people will remain in a Kalamazoo facility, employed by Pfizer.